Lydia invested $8,300 in an account paying an interest rate of 2.2% compounded
daily. Assuming no deposits or withdrawals are made, how long would it take, to the
nearest tenth of a year, for the value of the account to reach $12,690?

Answers

Answer 1

Number of years taken to reach the amount of $12,690 is 5 days,

What is Compound interest?

Compound interest is the interest which is calculated on both the initial principal and the accumulated interest from previous periods. It can be easily understood as interest on interest.

                              [tex]A= P(1+\frac{r}{n})} ^{nt}[/tex]

Principal amount invested by Lydia = $8,300

Rate of compound interest per day =2.2%

To find the number of years that have taken to reach the amount value of $12,690 .

By using compound interest formula,

[tex]A= P(1+\frac{r}{n})} ^{nt}[/tex]

[tex]12690 = 8300(1+ \frac{2.2}{365})^(365*t)[/tex]

[tex]\frac{12690}{8300}=(1.000060274)^{365*t}[/tex]

Taking log on both sides, we get,

log(1.5289156627) =365*t log(1.000060274)

log(1.5289156627)/log(1.000060274)= 365*t/log(1.000060274)⇒

0.184383 - 0.00002618= 365*t

⇒1843.5 =365*t

⇒t=5 days.

Hence, number of years taken to reach the amount of $12,690 is 5 days,

Learn more about compound interest here:

https://brainly.com/question/3989769

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Related Questions

HELPPOOOPPPPPPPP MEEE

Answers

Answer:

(24x - 48y + 10) / 26 = a

Step-by-step explanation:

-12(-2x+4y) = 26a - 10

24x - 48y = 26a - 10

24x - 48y + 10 = 26a

(24x - 48y + 10) / 26 = a

Jim is planning to take some classes at the community college. Tuition is $110 per credit,
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Answers

Make an equation
110x + 60 = 1050
110x = 990
x = 9

Solution: 9 credits

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Answers

Answer:

7/4 +1/6 +X=15/2

1/6+X=15/2-7/4

1/6+X=30/4-7/4

X=23/4 - 1/6

X= 138-4/24

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5.58333

Step-by-step explanation:

Answer:

6 4/12

Step-by-step explanation:

1 3/ 12+ 1/12 + 6 2/12 = 7 6/12 or 7 1/2

Look at this sequence starting with the FIRST TERM:
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A Geometric
B Arithmetic

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Answers

Answer:

B.Arithmetic

Step-by-step explanation:

because the terms have a first common difference

the rate of change is 4

The sum of three consecutive odd integers is 105.
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Answers

Answer: how about 105/3 = 35, therefore the middle number is 35, and the 3 numbers are 33, 35, and 37.

Step-by-step explanation:

100 points and brainly please help find vertical and horizontal asymptotes (must show work)
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Answers

Answer:

It would be very hard to graph this equation correctly as without factoring both the numerator and denominator it would be hard to account for all of the information.

x2−5x+6x2−2x−3x−6(x−2)(x−3)

Step-by-step explanation:

Answer:

Step-by-step explanation:

Note that you need to use parentheses around the numerator and around the denominator: f(x) = (2x^2+4)/(x^2+5x+6)

Division by zero is undefined, so x≠-2 and x≠-3.

Vertical asymptotes: x=-2, and x=-3

As x approaches ∞, f(x) approaches 2.

As x approaches -∞, f(x) approaches 2.

Horizontal asymptote: y=2

Jamie is flying a kite at the beach. Jamie ties the string to a stake in the ground and
lets out 75 feet of string. If the angle of elevation of the kite is 55 degrees, how high is
the kite from the ground to the nearest foot?

Answers

Answer:

24

Step-by-step explanation:

that is what   thinkof ur answer

Answer:

Height=61 feet

Step-by-step explanation:

Height=sin 55 degrees x 75

Height=0.8192 x 75

Height=61.43

what is 12 more than m

Answers

What? You’ve got a picture or something?

4/8 on a number line is equivalent to what

Answers

I think the answer is 2/4 sorry if I’m wrong
2/4 is correct, but they are probably looking for 1/2

4) Line L has equation y = 4x - 7, and line M is parallel to line L and passes through the point (2,15). Determine the equation of line M. A) y = 4x + 7 B) y = 2x + 7 ©). y = 4x + 15 D) y = 2x + 15​

Answers

Answer:

the answer is A.y=4x+7

Step-by-step explanation:

Line M is parallel to the line L, so the equation for line M isy=4x+b

Plug in the coordinates of the point (2,15) , you get:

15=4*2+b

Solve that to get b=7

Therefore the equation of line M is y=4x+7

Aimee can read 24 pages in 40 minutes. How many pages per hour can Aimee read?
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B) 36 pages per hour
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Answers

36 pages per house hope this helps pls brainlest ☺️

PLEASE HELP ILL GIVE BRAINLIEST AND SO MUCH MORE!!!!
Find the measurement of WOV. Which angle relashionship doyou use?

Answers

Answer:

60 degrees

Step-by-step explanation:

90 digress minus 30 degrees will be 60 degrees

# 1 What is the area of the trapezoid
with the following dimensions:
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Answers

Answer:

24.5 inches

Step-by-step explanation:

area of trapezoid: (b1 + b2 /2) h

Find the missing length in the right triangle.

Answers

10 ft because when you add the sides when squared 36+64 = 100 and the square root of that is 10
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Please help b² + 4
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Answers

b^2+4
3^2+4
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Answer:

13

Step-by-step explanation:

replace b with 3 and solve:

3² + 4 = 13

6= w-56/-7 , what is the value of w?

Answers

Answer:

-2

Step-by-step explanation:

6 = w - 56 / -7
w = 14

Just to confirm, I’m reading the right side as a fraction with w - 56 as the numerator and -7 as the denominator.

Multiply both sides by -7:
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Add 56 to both sides:
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Substitute back in to check:
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the question is in the picture, pls help quick

Answers

Answer:

please search it up bc i dont know the answer

Step-by-step explanation:

Masha bought 24 snickers, 56 kit kats and 96 twixies to make identical goody bags with the same number of snickers twixies and kit kats. What is the largest number of identical goody bags masha can make if she wants to use all the candies

Answers

Answer:

it is 24

Step-by-step explanation:

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Answers

Answer:

?????

Step-by-step explanation:

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Answers

Answer:

Step-by-step explanation: C %100

Answer:

I believe it is d but don't quote me on it

plz help me brainlest for first person to answer

Answers

Step-by-step explanation:

Given

Radius (r) = 3 inch

Circumference

= 2πr

= 2 * 3.14 * 3

= 18.84 inch

Now

Area

= π r²

= 3.14 * 3 ²

= 3.14 * 9

= 28.26 inch²

Hope it will help :)

Circumference is found using the formula 2 x pi x radius.
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Michael deposits $900 in a savings account
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Answers

Answer:

$1084.10

Step-by-step explanation:

1084.10 is the correct answer for this

What is the solution of the equation 13 + b = 37?
b=

Answers

Answer:

13 + 24 = 37 the answer is 24

Step-by-step explanation:

Answer: 24

Step-by-step explanation: 37-13= 24

42 -3²= 2x
(42-9)/2= x
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17.5=x

Answers

The answer is 17.5 and your question is a little messy

. Find all values of x that will make ∠A an obtuse angle given
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Answers

Answer:

(8, 15]

Step-by-step explanation:

If ∠A is bigger than 90 then that means 12x-6 > 90

12x > 96

x > 8

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A car manufacturer produced 5.000 cars for a limited edition model Dealers sold all of these cars at mean price of $36,000 with a standard deviation of $3,000. Suppose we were to take random samples of 9 of these cars and calculate the sample mean price for each sample. Calculate the mean and standard deviation of the sampling distribution of .

Answers

Answer: Mean = $36,000 and standard deviation = $1000.

Step-by-step explanation:

The mean and the standard deviation of the sampling distribution of the sample mean:

[tex]Mean=\mu\\\\Standard\ deviation = \dfrac{\sigma}{\sqrt{n}}[/tex] , where n =sample size.

Here, we are given

[tex]\mu=\$36000,\ \ \sigma=\$3,000[/tex]

n= 9

Then, the mean and the standard deviation of the sampling distribution of the sample mean:

[tex]Mean=\$36000,\ \ Standard\ deviation=\dfrac{3000}{\sqrt{9}}=\dfrac{3000}{3}=\$1000[/tex]

Hence, Mean = $36,000 and standard deviation = $1000.

About how many classmates was Marco able to interview in the beginning of the week

Answers

Not sure maybe 12 or 11



The residents of a city voted on whether to raise property taxes. The ratio of yes votes to no votes was 3 to 2. If there were 1833 yes votes, what was the total
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Answers

Answer: 1,222

Step-by-step explanation:

I would set this up as a fraction

3/2=1833/x

I would divide 1833 by 3 to see what the multiple is that would be used to find the equivalent fraction. Then multiply that number by 2 to solve for x.

Another option is to cross multiply

3x=2(1833)

1833*2=3666

Divide 3x by 3 to get x alone

Divide 3666 by 3 to get answer

1222

A local park is renting canoes. Canoe rental costs $4.75 per hour. If you want to spend $9.50, how
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Answers

Answer:

I would say 2 hours

What is sum of the vectors, LeftAngleBracket 4, negative 5 RightAngleBracket and LeftAngleBracket 10, 2 RightAngleBracket?

ANSWER: B
14,-3

Answers

Answer:

14,-3

Step-by-step explanation:

Answer:

14, -3

Step-by-step explanation:

I got it right edg 2023

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